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Strategies & Market Trends : John Pitera's Market Laboratory

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To: GROUND ZERO™ who wrote (2128)	6/12/2000 5:24:00 PM
From: Jerry Olson	Read Replies (1) of 33421

Hi GZ yes but everyone wants some confirmation of the eco reports this week...before they plunge... i feel the lack of bids, and slow action is not really showing the real underlying thinking... let's see what happens after Retail Sales and CPI..if they come in good, watch the volume increase substantially...to the upside..i can't think of a situation when you have major rallies almost back to back plus 200 point moves, with heavy volume off the lows recently..and not have additional buying soon there after... todays was lack of buyers waiting to pounce... i looked at both the SPX & OEX, and they are very near a 50% fib retrace down from the Mar highs, between the April lows.. and right beneath this area are 2 time frames on the daily candle charts for added support... i can see this bounce coming...if not..then i sell my longs and wait a bit... i want to go full 100% margin..but i am waiting patiently for the next 2 days... it's hard, but i can and will do it..in fact i sold 2 positons today right at the top<g>..and bought one right at the bottom..i hope???<GULP>...

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